Category: Current Events

A CAT Delay Probably a Done Deal

On October 11, the House Financial Services Committee overwhelmingly approved H.R. 3973, better known as The Market Data Protection Act of 2017. The vote to move the bill out of the committee fell one vote shy of being unanimous. The bill requires Thesys CAT, the operator of the Consolidated Audit Trail, to develop a comprehensive…

Rethinking Institutional Bitcoin Investments

I might have been hasty in my last post regarding being bearish on institutional investments in bitcoins. After interviewing Pantera Capital CEO Dan Morehead for Trader Magazine’s current cover story, I refined my views a bit. Buy-and-hold asset managers will still find investing in the digital currency directly difficult. The bitcoin market remains relatively small, highly fragmented,…

Fed Calls for Further Non-bank Transparency

Speaking before German Finance Ministry and Bundesbank officials earlier today, Federal Reserve Vice Chairman Stanley Fischer warned his audience that non-bank are less vulnerable than they were during the global financial crisis, but now is not the time to relax. “Regulation is a ‘cat and mouse’ game,” said Fischer. “Regulators need to respond to existing…

The Sound and Fury of Fixed-Income Trading

This may be a poorly timed post since the Tabb Forum’s annual fixed-income conference is tomorrow, I’m pretty bearish on meaningful changes in corporate-bond market these days. There’s been a lot of activity in the electronic-trading space for fixed income over the past year as agency brokerage ITG and Tradeweb launch their respective trading platforms…